Mar, 31, 2021 — COREPLUS FEDERAL CREDIT UNION is a federal credit union headquartered in Norwich, CT with 7 branch locations and about $284.24 million in total assets. Opened 85 years ago in 1936, COREPLUS FEDERAL CREDIT UNION has about 26,852 members and employs 67 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COREPLUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 202 Salem Tpke Norwich, CT 06360 |
| Phone: | (860) 886-0576 |
| Fax: | (860) 885-3538 |
| Website: | http://www.coreplus.org |
| Branches: | 7 branch locations |
| Members: | 26,852 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1148 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $284,237,123 |
| CEO/Manager: | Nicholas K Fortson |
| Chairperson: | Susan Dowling |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 28,681,881 |
| TOTAL INVESTMENTS | 63,219,488 |
| Loans Held for Sale | 1,060,800 |
| Real Estate Loans | 69,064,142 |
| Unsecured Loans | 20,315,858 |
| Other Loans | 91,837,249 |
| TOTAL LOANS | 181,217,249 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,307,707 |
| Land And Building | 2,697,245 |
| Other Fixed Assets | 1,219,001 |
| NCUSIF Deposit | 2,399,723 |
| All Other Assets | 5,049,443 |
| TOTAL ASSETS | 284,237,123 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,400,024 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,901,337 |
| Regular shares | 113,832,603 |
| All Other Shares & Deposits | 95,432,206 |
| TOTAL SHARES & DEPOSITS | 262,166,146 |
| TOTAL LIABILITIES | 263,566,170 |
| Regular Reserve | 2,931,294 |
| Other Reserves | 143,588 |
| Undivided Earnings | 17,596,071 |
| TOTAL EQUITY | 20,670,953 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 284,237,123 |
| INCOME & EXPENSE | |
| Loan Income | 1,710,809 |
| Investment Income | 212,103 |
| Other Income | 535,725 |
| Total Employee Compensation & Benefits | 1,086,054 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,256,244 |
| Non-operating Income & (Expense) | -13,221 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 45,000 |
| Cost of Funds | 206,359 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 521,051 |
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